Acambis third-quarter revenue down, company reports net profit of £4.8 million

By Lisa Kerner

Charlotte, N.C., Nov. 7 - Acambis plc said for the three months ended Sept. 30, it had revenue of £2.8 million, down from £4.6 million in the prior-year period.

Research and development costs for the period also decreased to £7.7 million, from £8.7 million for the third-quarter 2005.

Acambis reported a net profit of £4.8 million for the quarter compared to a net loss of £10.2 million for the same quarter in 2005.

The company's short-term investments and cash balance at Sept. 30 was £46.1 million.

For the nine months ended Sept. 30, Acambis reported revenue of £13.4 million, research and development costs of £28 million and a net loss of £18.1 million.

"We have delivered both positive data from our key pipeline programs and achieved a number of agreements that have raised significant cash for the company," chief executive officer Gordon Cameron said in a company news release.

"Acambis is now in a much stronger financial position and, with our clear strategic direction, the board is confident that we are well positioned to pursue the next stage of Acambis' growth and development."

Acambis is a biotechnology company based in Cambridge, U.K., and Cambridge, Mass.

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